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. dockworkers at some of the nation's biggest ports could walk off the job this weekend, if a new labor deal isn't reached. as allison worrell reports, a strike could ripple far beyond the ports. >> reporter: if a deal isn't reached by 12:01 a.m. sunday, union dock-workers will take to the picket-line. 15 ports span the east and gulf coasts. and while they're in different locations, handling different types of cargo, they all agree, a strike would be very bad for business. >> it's really important for the people in our country to recognize, in this state, that a strike combined with the ongoing negotiations between congress and president obama regarding, um, the so-called fiscal cliff could be a one, two combination knock out for nation's economy. >> if a strike does happen that means a big chunk of the more than 14,000 members of the international longshoresmen association will be off the job. >> reporter: the ports impacted generate an estimated $11 billion in state and local taxes annually. but losses from any strike will be felt far beyond the coast, with industries as diverse as agriculture
strike by longshoremen. union leaders for nearly 15,000 dock workers at every port from texas to maine say they'll walk off the job on sunday. we asked anna werner to find out how a strike would hurt the u.s. economy. >> reporter: the port of houston handles 42 million tons of cargo every year. it extended its hours this week to try and get shipments in and out before a strike can bring the port to a standstill. jim gillis is vice president of gulf intermodal services, a container trucking company. >> we've seen a dramatic increase in volumes and congestion as a result. >> reporter: what happens if they can't get all the goods out of the port? >> you have containers being held in yards around the houston area, specifically, so you're going to see stores are going to have problems stocking. >> reporter: negotiations between the international longshoremen's union and the shipping companies are deadlocked over a proposal to cut royalties paid to 15,000 dock workers for each ton of cargo they move. a shutdown would affect 15 ports on the east and gulf coasts, including new york, baltimore,
. how much money as the port authority gone through and how much are they overbudget? >> originally in the first month after 9/11, when the port authority had a first financial where they put out, they said we are not going to have to pay the cost of this in rebuilding. and they said that we are going to get all of this money for the federal government. do not worry. ten years later, they had borrowed nearly a billion dollars. after the storm, they thought they were getting all this free money from washington and they didn't spend it very well. >> all right, why is the port authority involved in the first place? are they supposed to run the bridges and tunnels and transportation? i don't get it. >> one of the things about the port authority is it is a bistate agency. new york and new jersey governors run. what they have done is use it as a slush fund, kind of off the books government. voters don't really have any say in it. they collect all of their money. the tolls just went up and all of the hudson river crossing the port authority controls. it is now $13 to go across the george w
that could shut down some of the country's busiest ports. we'll show how it could impact you. ?o [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. >>> it was a wild ride to election day 2012. jim acosta has the top ten campaign stories of the year. >> reporter: the year started off with a surprise i
bertha. >> good evening. hopefully it will be averted. the director of the port authority is encouraging the authorities and passengers and cargo airlines to work together and resolve their differences. they want more training and better equipment. the port authority says a strike would be disruptive. and software sales rose 17%. results suggest that it hasn't crimped it spending. and a sweet story about a honeymoon at the waldorf astoria 60 years ago. the hotel honors an veries if you have your receive. he and his wife thought it would be nice to have pancakes for breakfast. but the pancakes were at the 2012 rate which is $24 for room service. $21 for the room, $24 for the breakfast. larry, everything goes up, and this was the second time they did it this year. they had a couple that paid $16.80. >> plus the pancakes. but that is a far cry from the pensional suite which is $8,000 a night. >> the nation still looking for answers after the newtown shootings. right now more information about this mass killer. we are about to talk about all of this with two former fbi profiling experts. tha
could suffer yet another major blow. looming strikes at ports from next sass to boston are threatening to put thousands of americans out of work. with potential losses for u.s. businesses ranging in the billions. >> the port of baltimore is one of maryland's largest economic generators. any type of work action that may result in a suspension or stoppage of work would have an adverse effect. >> we handle more cars, we handle more farm and construction equipment than any other u.s. port. patti ann: we're learning that adverse effect could take a toll on the economy. fox business network's stuart varney has more for us on that this morning. good morning, stu. >> good morning, patti ann. you're talking about two million tons of cargo a day. you're talking about billions of dollars of commerce every single day. if there is a port strike that takes place possibly on sunday of this weekend, then 14,500 dock workers walk off the job at 14 major ports on the east coast and the gulf coast. directly affected? retailers who will have a hard time getting supplies in for the spring sales. the wareho
from ports from boston to houston. coming up. plus the fbi has again released its file on marilyn monroe. this time minus all of the redactions. what the documents say about her and her suspected ties to communism ahead. and word that president george h.w. bush is improving and even singing in the hospital. that's coming up as we approach the bottom of the hour and the top of the news. [ cellphone chirping ] [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americans 50 and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedh
for the third straight month to reach the highest level in two-and-a-half years. major port strike has been averted for now after mediators got the long shoreman's union to postpone it for month to work out time detail osafter new contract. correspondent phil keeting is following that story from miami. >> at least one end of the year cliff has been averted for now. container cliff. there will be no east and gulf coast port strike happening this weekend. but both sides still have much to work out. if they don't, five weeks from now will be right back to a sweeping strike with great consequences. >> a strike in long beach in los angeles a few weeks ago. that was close. if you cost that area, $1 billion a day. >> sticking point has been the container royalties. salary supplements for long shoremen. heavier the container, the more they get paid. the owners want to cap the royalties at last year's levels to 15,000 long shoreman did not. this from the federal mediator in washington. "the container royalty payment issue has been agreed upon in principle by the parties subject to achieving an overa
. >>> problem averted? dock workers that were threatening to strike and shut down ports tomorrow come to a temporary deal but could the country be facing the same problem in 30 days? we'll talk about that. >>> plus, severe weather could be on the way to the east coast as parts of the country continue to recover from storms that crippled communities already. who may be affected this weekend? >>> plus -- >> from father to father, president, i just ask that as a father just to consider what's happening to the families that are in process. >> couples hoping, praying to adopt russian orphans and pleading with russian president vladimir putin after he signs a law banning americans from adopting russians. one advocate said they're small change in a game between two states. >>> as always, join our conversation on twitter. you can find us. >>> another winter storm is moving in to parts of the country right now. 65% of this nation blanketed from snow from the last one. look at that map. a whole lot of snow in a lot of places. that massive system is gone but not after a foot of snow in new engla
-out could affect ports from boston to houston. >>> for the second time this month a man has been pushed to his death in the path of a new york subway train. >> crazy people running the streets. >>> an uninvited guests slithered into a backyard in florida. >> somebody else got the shower on the sideline. >> jamal crawford who i think should be an all-star coming off the bench is dangerous. be still. >> and all that matters. >> hillary clinton plans to go back to work just in time for the new year. >> two reather than get angry and you show it you live a lot longer. >> he gives a speech about hitting the debt ceiling! i'd like to see if he could even count to 1 million much less 16.4 trillion! captioning funded by cbs >> it's friday welcome to "cbs this morning," everyone. i'm jeff glor with rebecca jar sis. charlie, gayle and norah are off. there are predictions but little progress in washington with a deadline for the fiscal cliff now just four days away. >> president obama meets later today with congressional leaders in one last effort to make a deal before the dead
to toys and electronics through the ports and into the marketplace but a lot of the goods won't be making it to our stores in longshoreman at more than a dozen ports from main to texas go on strike. that's what could happen by sunday if a deal can't be reached between the major shipping companies and a union representing nearly 15,000 longshoremen. >> the impact would be great. obviously on the dollar value side. on the cargo handling side but also on the job side because again these sports are major economic generators. >> richard of the maryland port administrator and others say the economic damage from a strike would reach well beyond the docks. >> your mom and pop retailer to your farmer to the trucking company that has to pick up the container atmosphere the port. so not just at the port but nationwide for everybody else that relays on the ports to move their commerce. >> coming at the same time as the fiscal cliff impasse it's a potentially devastating one-two punch for the economy. neither the longshoreman's union or alliance representing the shipping companies could give us anyone
. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for everybody else who relies on these ports. >> one port official says east and gulf coast ports handle about $55 billion worth of cargo a month so a strike could have a major effect on the retail business. >>> land lines not going the way of the vcr just yet. older americans are slow to get rid of land lines and go mobile. the centers for disease control asked 20,000 households about trends throughout the year. the study found about 52% use cell phones for all of their cal calls, that's less than 2% increase from previous years. the older generation is slower to make the switch. >>> patrick democracy might play a doctor on television but he's doing some economic cpr in real life. the ""grey's anatomy" start" trying to rescue a coffee shop chain in seattle. they're hoping to save about 500 jobs. democracy said he within as to g
. not as much as massive port strike would if no deal is made before this saturday. some are calling it the port's cliff. that's not the only outrage coming from the unions this week. we are going to discuss that next. free market capitalism, best path to prosperity. this is something they learned the hard day the american people are tired of the status quo. >> who are you going to vote for? >> definitely not this guy. >> you know your money got him elected last time. >> i didn't give that guy a dime. >> yeah, you did. our union gave him a big chunk of your dues money. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote.
on all of the ports on the east coast of america? >> it would have been fairly significant if we would had a shutdown on all of the ports from the east to texas and it would affect importing, exporting, manufacturers who rely on inputs to production, farmers who are trying to get their products to market overseas, trucking companies who sold jobs to pick up containers at the ports this would have been felt fairly wide throughout the u.s. economy. >> can you put a number on it? can we look at previous shutdowns of ports and what they cost the u.s. economy on a per-dayis bahhis, for example? >> sure thing. when we look back at what happened in 2002 we had a full shutdown on the west coast with a ten-day lockout. that lockout cost the u.s. economy about $1 billion a day and it took more than six months to fully recover from. >> i have to think that a lot of retailers have already tried to make alternate plans because they were fearful this was going happen and so as a result have started to spend money. did some companies start airfreighting stuff instead which would be much more expensiv
blow sometime soon not from the fiscal cliff, but from a union strike that could shut down major ports from coast to coast. should the white house step in? we're going to be talking smoot holly in a second. heather: former president george h.w. bush has been hospitalized for more than a month. what doctors are now saying about the former president's health. gregg: and from twilight twists to secret e-mails to the cia, a look back at the biggest scandals, scandals of 2012. oh, yeah, that was a scandal. heather: that's a big one. ash cd from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. heather: welcome back. an upd
ports in southern california are refusing to cross the picket line and set up by clerical workers. today, both sides have reached an agreement of sorts. they agree they need a federal mediator. i want to bring in miguel marquez in long beach. what's the deal? what's the hang-up here? >> reporter: well, the hang-up is over language regarding outsourcing of jobs. only talking about 800 jobs in total, and a small fraction of those are their clerical workers at the port that are striking. one of the people who is a -- represents the labor union said they were miles away a few days ago. now about a yard away. the mayor of los angeles has been up all night, he got in from an overseas trip in l.a.x. up the way here. he came here last night about midnight and he's been up with the negotiators all night trying to get them to this point today. here is how he described how those negotiations are going. >> i can just tell you as a general proposition that there is too wide of a chasm between the parties now, though the good news is they have agreed to federal mediation, they had not agreed -- agreed
. good morning, ellen. >> a deadline for workers at our nation's ports. a total of 15 ports. they have agreed to mediation. the bad news is that 3000 dockworkers in the pacific northwest have rejected a contract proposal that management called its final offer. this is something we are continuing to watch. it could impact the overall economy. stock futures are pretty quiet. there was a down day yesterday. also concerns about the fiscal cliff. the president and congress return to d.c. retailers are doing a much better job of controlling inventory. muchstores don't have so merchandise left over that they need to clear out. netflix will introduce social features next year. a bill that would move restrictions on companies sharing customers rental histories. netflix customers can share which movies they watch an facebook. i'm a ellen braitman from bloomberg news. >> thank you so much. >> 37 degrees at the airport. keith mills will have sports coming up. >> don't forget to e-mail us your response to our water cooler question of the day. will you be more likely to visit a maryland casino now t
not be so significant is the fact they're making it is significant. russia has a very critical port along the syrian course along the mediterranean the port of tartuse. russia is trying very hard to keep tear influence inside syria and may be trying to play both sides of the coin here. they want to keep assad so they have influence with him and to hedge their bet to gain as much influence with the syrian rebels so if the rebels win they get to keep the port which is their only naval port outside the russian federation. going forward this turned into a little bit of a proxy war. a number about weapons the rebels are getting especially coming from outside powers. obviously president assad has been resupplied by iran and russia. rebels being supplied by saudi arabia, qatar and also turkey so that both side here have little interest in a peace deal. more interestingly both sides, the saudis and the iranians, have an interest in trying to see this go on as long as possible and an interest seeing their side win inside syria. they're willing, more than happy in fact, to supply money and weapons
on sunday between labor union shipping at ports from boston to houston, could be halted. insiders say a deal looks like a long shot. right now over 14,000 workers are threatening to strike at 14 major ports. you see them go all along the south and east coast. not only will a strike cause billions of dollars a day, it will force shipping costs to rise. things will be delayed coming in. right now the union is fighting for workers to be paid per shipping container, which comes out to a salary of $124,000 per year for each worker. >>> mother nature adding insult to injury to people still trying to recover from super storm sandy. many in sea bright, new jersey, was devastated down there, say this week's nor'easter was like being kicked while down. one homeowner picked what she could salvage from sandy in a container. she sadly discovered it flooded. >> i don't know what to do about that. i'll have to -- first of all, get it out and get it someplace and dry it out. >> juliet: i drove down there three weeks ago, i could not believe what i saw. about 150 out of the 300 people who live there stayed.
strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the sen
15 ports along the east coast and the gulf and officials estimate it will cost $1 billion a day. >>> 5:03. let's check traffic and weather. we had a break yesterday but i guess rain is coming back. >> it's all gone. >> hello. >> it didn't last very long. we got rain heading towards the bay area and you can see that low. it's right there. so it hasn't quite hit the bay area yet. but by later on this afternoon, that's when we're going to see light showers and it's going to quickly spread all across the bay area, continuing to tomorrow morning. so it's on approach right now and you can see those showers. bring an umbrella if you are heading outside at all today. so again you won't need it for this morning. the only thing we're talking about are all these cold temperatures. very chilly. fairfield 34 degrees. san francisco in the 40s. it's going to be a cold day this afternoon. temperatures sightly below what we saw yesterday, 54 in oakland, 51 in san rafael, 52 in santa rosa. so you got the idea. just a cold rainy day on tap. it looks like it's going to continue through tomorrow cle
. it could shut ports down from boston to houston. they move more than 1,400 million ton as year. >>> seaworld is known for its water shows and killer whales. iter and $80 million during the first nine months of this year. seaworld's other properties include two garden parks and sesame place in new york. >>> thanks erica. straight ahead, your weather and in sports dwyane wade gets hit where it counts, in the wallet. this ill-advised attack on this player. ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ >>> here's a look at today's forecast in some cities around the country. new york, mostly sunny, 39 degrees. miami, mostly sunny, 7. chicago, showers, 34, dallas, showers, 47, los angeles, mostly sunny, 63 degrees. time now for a check of the national forecast. heavy winds from a powerful wind and storm is winding down. rain showers will spread from northern arkansas to northern kent
billions of dollars. a ten day port lockout in 2002 cost $1 billion a day and caused a major backlog and shipment. those same officials have called on the president to use emergency powers to avoid a coast guard port shutdown. talks broke down last week. federal ridi haters are hopeful to avoid a total shutdown. it was a customers tree this christmas with retailers slashing prices and hope of mary profit. did those deals bring in the dollar? adam shapiro is joining that story. >> it did not bring in the dollars the same way it has in years past. here are the numbers according to its polls. this is not indicative of those holders. from the period of october 28 through december 24, sales only grew by seven tenths of a percent. sales grew by 2%. as we take a look at some of our favorite video, people actually shopping, the retail federation is sticking to its prediction. we will see year over year growth for the holiday season. they are predicting we will have a $586 billion season. what we are seeing through spending polls and shopping track where they downward vision, the reaction to
necessities, they took appear the port-a-potties from the donation hut where people get food and clothes and eat. they took the port-a-potty away. >>neil: how do they explain that? >>guest: they don't. they want did remove the whole area john 1. >>neil: they are aware the people are stranded? >>guest: they have in heat, no hot water, if you have electric you do not have a kitchen or a bathroom, and if you do there is mood because the sewage overflowed so it and not just seawater it was all kind of contaminations with health issues and everyone is turning a blind eye to this. they were there to see the houses that collapsed but not talk to the residents. >>neil: when you see these guy s file filing through the tv and high fiving each other. >>guest: i don't see it. i could not fill out the paper work because i got burned because of the chemicals in the air. they filled out my paperwork because i could not see because of my eye, and they filled it out and then they said i filled out the paperwork wrong. and they filled it out. >>neil: this is a better way to get the victims the money, rath
force. >> 30-day contract extension agreed to by the long shoreman shipman and port operators friday temporarily averts a shutdown of the 14 ports from massachusetts to texas. 14,000 long shoremen still find their jobs threatened by out automation. today it takes one long shoreman to do the works of three we have seen before. >> efficiency and new productivity, machines come in play. people are displaced by that. to maintain cost and come pettive market we have to pay attention to. president obama is beholden to unions. he's made a point of supporting them. >> look at how the unions built the stronger middle class and stronger america. >> day after that, michigan became the 24 state to pass right to worklaugh. the president option to reward unions are limited. >> we'll expect the leadership from president obama. >> more than 5700 new regulations posted in 90 days alone. >> way to do it from the union per speculative to raise the workers' pay around the world. >> laying the ground work to protect workers from detroit to juarez to shanghai to bogata. getting the government and multinat
ratings are dropping. >> retail industry is keeping"g÷ a close eye on port along the east coast.&ú8uq here's ellen with the bloomberg business report. >>> christmas tree and lights may still be up, retailers are gearing up for spring it is their most lucrative time of the year as customers stock+g5 possible strike looming at more than a dozen ports 15,000 workers potentially ready to walk off the job, cuts off apparel makers a lot at stake so many chains get their shipments from overseas. apple may be a favorite among consumers but not customer satisfaction with the website. research finding apple's customer satisfaction dropping from last year. the company introduced more must-have products during the holiday season, so making the site harder to navigate. amazon takes the crown, new record high in the study, sells everything from consumer electronics to food to clothes. at the new york stock exchange, i'm ellen brightman with the bloomberg business report. >>> time for a check of the weather.j(iiñ >>> rain today, won't be a steady stream inkind of intermittent. >> yes, i'm -- i'm sorry y
began at 11:00 last night on bridge port court on the city's west side. this san jose fire department put out that fire then discovered the bodies of a man, woman and child. three other people including the officer who rescued one of the people who were injured were hospitalized with smoke inhalation. that fire displaced 56 people from the building. investigators are still looking into the cause. what you're looking at here are pictures from a fire yesterday in the mission district that left more than three dozen people homeless. this is in san francisco. it ripped through several apartment buildings. that fire broke out just after 9:30 yesterday morning on 23rd street, quickly spread to the near by buildings. firefighters worked for almost 2 the hours to contain it. 5 unit buildings were involved. three of them appear to be a total loss. no one was injured. the red cross is helping people forced out of their homes. they're opening up a center today for those people. >>> police announced the arrest of three more suspects in the murder of a man. raveesh kumar kumra former own of the fa
. it's currently stuck in the port of amsterdam after the designer, philippe starck agency to attempt to remit the final payment for his design. according to lawyers at starck's design company, the designer has only received 6 million of the 9-million- euro commission and is payment before the venus will be released. as santa prepares to make his big journey. kids and adults all over the world can track his progress onbut that's not the only place people can go to see one of our viewers. as rain poured into a hillsdale mall parking lot. you can see it rushing down to partially flood. in the south bay. ther were reports of sporadic flooding all around pounded the area. news. as you can see there are sidewalks. a starbucks parking lot alsoseveral inches of rainwater chp's statewide dui crack down. chp is reporting that 700 drivers have been arrested statewide for driving under the influence of drugs or111 of those arrests were made here in the bay area. in 2011 the chp arrested 263 area. here in the bay area there time in 2011. chp's maximum enforcement will continue through tomorrow's
a different subject. something that could affect our economy short-term. port workers from boston to houston, threatening to strike and walk off the job come sunday. that could disrupt 2 million tons of imports every single day, and billions of dollars of economic activity every day, every week that this walkout continues. it's a threat at the moment, but it could become reality come sunday. if it happened, do you think we go into recession? is it the final straw at that kicks us into recession? >> well, given the fact that so many goods have come in in the end of the third and the beginning of the fourth quarter for the holiday season, i think if it's a short-term thing, we don't go into recession. now what i say about this, stuart, i say if that happens, fire them all. working and having a job is a privilege not a right. we have become the entitled state of america and i will tell you what i've never been in a job if i decided to go on strike they wouldn't have said, carol, guess what, that's the door don't let it hit you on the butt as you go out. if they want to strike, 20 million people
and farmers are bracing for possible strike. lori: no way. tracy: right. that could shut down ports from boston to houston. 15,000 dock workers are preparing to strike after this weekend. after contract negotiations between international longshoremen's union and shippers broke down. groups are calling on president obama to step in, believe it or not to avoid billions in losses. they're citing a 2002 lockout at west coast ports, at west coast ports that caused the economy one billion dollars a day. this is after a push by federal mediators, the two sides agreed to come to the table again. no word when those talks are scheduled. the only up shot to the whole thing, lori, the big shipping season is over. lori: that is one of the mitigating factors. tracy: it might not be as damaging to the economy. we're talking about royalty fees here. lori: we're talking about royalty fees. a union story. union having more of an influence given size of this economy and industry. this is what the critics are saying about it. more big bad union news there for you. let's check the markets. stocks are off the
treacherous. more than 14,000 longshoremen planning to strike on sub. it could shut down every major port from boston to houston. more than 100 million tons of goods move through those ports every year and the shutdown could cost the economy billions of dollars. the contract between the international long shore man's association and the shipping lines expired in september and was extended twice. now back to on the record. >> michael jackson's late effort family drama, this year's headlines read like a movie script. but it also brought a loss to some entertainment legends. hears a look at some of the biggest stories. ♪ and i will always love you >> the body of 48-year-old whitney houston lay on the fourth floor of the beverly hilton hotel. police saying that they showed up about 3:55:00 p.m. pacific time responding to a distress call there at the hotel and they found whitney houston dead tonight. ♪ >> the night's big winner was adelle. walking away with six grammys. ♪ >> taylor swift stole the show for the second year in a row. she was crowned entertainer of the year. >> three, two, one!
coast ports say hope through the weekend but the fight is far from over. phil keating has the latest from miami. phil? >> this just goes to show that two sides can in fact come to negotiated deal. it's great news for millions of american workers in the u.s. consumer supply chain as well as untold numbers of american consumers because all of the prices that they depend on might have gone up. bottom line, no strike on sunday. both sides remain mum so we don't know the details of this, temporary deal just yet. the sticking point had been container royalties paid to the longshoremen. the heavier the container, the more they got paid. owners wanted it capped alt last year's level, longshoremen did not. the container royalty payment issue has been agreed on in principle inside, electronics, clothing, components, airline parts, every consumer product you can think of. both exports and imports. a strike would have shortened supply and raised prices and hit the economy far harder than the port strike in california. >> there was a strike in long beach in los angeles a few weeks ago, just clerk
ports from boston to houston. those ports move as much as 100 million tons of goods each year including everything from flat screen tvs, sneaker and snow shovels. >>> the housing market shows new signs of rebounding. the commerce department says sales of new homes increased by about 4.5% in november from the month before. that's the fastest pace in two years. >>> and that's your moneywatch. for more, stay with cbsmoneywatch.com. back to you. >> thank you. >>> with all the snow falling in the sierra, avalanche concerns are on the minds of many after two people died at resorts this week. cbs reporter neda iranpour asks, what's being done to keep skiers safe? >> reporter: it's one of the snowiest decembers here at northstar ski resort during one of the busiest weeks. >> i love snow. it's really cool because it's all fluffy and soft. >> the conditions are amazing, we have had a lot of new snow. >> reporter: but potential for avalanches goes up as the snowpack does. >> it helps with a sliding surface. you have a hard base underneath and light snow on top. >> reporter: two avalanches on chris
ports from massachusetts to texas. >>> stock prices have doubled since march '09 and that hasn't stopped american investors from selling stocks five gleers a row. an associated press analysis shows individual investors have pulled at least $380 billion u.s. stock funds from april 2007 and it's the first time ordinary investors have sold during a bull market since world war ii. >>> mortgage rates headed down last week according to freddie mac. the 30-year fixed rate average was 3.35%, just 0.04% from the 40-year lowest on record since 1971. the average on 30-year fixed rates was 3.66%, the lowest in 65 years. michelle, it seems like a good time to buy. >> yeah, maybe. >> thank you, seema, if you can get the loan. >>> why when we just upgraded their trade status in we're about to get answers from a russian expert just ahead. [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit offection. report. i'm michelle caruso-cabrera. >> gun
? and could you comment on where the commercial space ports of the future will be located? >> well, for suborbital manned spaceflight, they can use any airport with a 12,000 foot runway. branson is considering doing it in an isolated place in new mexico. i tried to talk him into doing it in a place where there is an ocean and something worth looking. at any rate, his plan to put spaceports in five or six different countries, he wants to do one or you can let people see the northern lights during your space flight. so he has some really neat ideas about where it could be done. when you look at where funds are available for a space port, there is one planned in dubai. there is not one affordable enough to fly into orbit, so i suggest that we had better solve that problem and then think about what a space port would look like. >> your thoughts on using model aviation as a funnel for youth to get into aircraft engineering, because your friends at the faa are trying to lump us then with the uab program. >> not just the faa. they are now in the air force debating how do you give an air m
again. tracy: and 14 major ports that are being threatened to be shut down. we will get the latest. lori: also confidence in the global economy is higher suggesting people are picking up more security. we are back after this. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, ashis may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effectsay include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting morehan four hours. if you ha
it happened and what the coast guard is doing to get it safely back to port. uma: we are following some disturbing developments out of iran. the country's navy is reportedly test firing a range of weapons including torpedoes and missiles near the strategic strait of hormuz, a vital passageway for 1/5 of the world's oil supplies. joining us to the discuss the possible ramifications, aaron david miller, a former advisor to six secretaries of state and vice president of the woodrow wilson center. great to have you here today. >> great to be here, uma. uma: how concerned are you by the recent actions of by iran regarding this test firing going on by the straits of hormuz? >> happy new year, and by the way this is really the mullahs way of extending a happy new year to the administration as well. these are aer is series of six-day integrated exercises to demonstrate and show that the iranians can take care of their own business and defend their coastline and if necessary, if necessary, put up an offensive deterrent capacity in the event they're struck by the united states and israel. i think
deep water port on the east coast. we are planning to take full advantage of the panama canal and the changes coming there soon to bring commerce into virginia. we are aggressively building our rail system, going from the port of virginia west to get that traffic out west. we just announced that we are building and other highway, a tall access highway. one of the primary purposes is to bring truck trafficking from the port of the virginia inland a connected directly with i-95. that will help us bring newcomers in. i want to mention something that has been a little tabooed as of late. the governor is not ashamed of it at all. we have taken full in of it. that is incentives to business. the governor has put significant additional resources into our virginia economic development partnership. funds he has at his deposal -- disposal but also resources to build up infrastructure we need to do in virginia. the was a piece in the new york times recently that criticized the use of that. in virginia, some of the things that were pointed out as concerns, the fact that they neglected to i
people make sure that the middle class and the port are taking care of. we have the calmness from "the move on.times," let's >> hours later, senator reid returned to the floor. >> i now ask unanimous consent that at 1:30 p.m. today, the senate did proceed to read s664, regarding the debt limit increase, that there be no limits [indiscernible] upon user yielding back at that time, the bill will -- >> is there an objection? >> i reserve the right to object. what we're talking about is a perpetual debt ceiling grant in effect to the president. matters like this always require 60 votes. i would ask my friend, the majority leader, if he would modify his consent agreement to set the threshold at 60. >> majority leader? >> reserving a right to object. what we have here is republicans in the senate not taking is for an answer. this morning, the leader asked for consent on the proposal. now i am telling everyone to have that good, upper down vote. now he rejects his own idea. i guess we have a filibuster on the bill. so i object. >> is there an objection to the original request? >> yes, i rejec
, it could of course. tomorrow at midnight a longshoremen's strike could shut down ports at east coast and the gulf. and the strike could disrupt about, we figure, 2 million tons of imported cargo per day and of course, it would cost the economy billions. it could have major implications on nearly all levels of the u.s. economy, could push america into recession, that's a big could. and president obama, lawmakers meet 3 p.m. on the fiscal cliff at the white house today. markets are going to be watching that real close, but of course, the markets close about an hour after the meeting starts. so, that meeting probably won't have much impact on the markets themselves unless there are leaks about what might happen. until then, any developments out of d.c. i'v i have are going to drive this market. we're calling it sound bite trading. we're covering it. the opening bell is next. want to know what i did in the last five hours? i played a round of golf. then i read a book while teaching myself how to play guitar; ran ten miles while knitting myself a sweater; jumped out of a plane. finally, i
are jealously guarding the port of tartus where they have a significant military and financial investment in syria. they are a patron of syria. it is very unlikely of the russians are going to help dislodge this, and that is a shame, obviously, because the syrians are loading chemical weapons. we hear dangerous reports command of syria right now. lou: and we learn that the pen exiles, one of the exile leaders returning to gaza today. well, not returning to, but going from which he had been banned for 45 years. your reaction? and an assessment of its significance. >> sure. the political leader. this is seen as a victory. i'm not sure why they let him back in. but currently celebrating his 205th anniversary, and they are also celebrating what they describe as a victory over the israelis despite the fact that the israelis really dominated the battlefield during that war in gaza two weeks ago. lou: it's great to have you with us. we thank you so much. appreciate it. >> my pleasure. lou: much more. we will take all of that up with the "a-team" here next. ♪ lou: 18 days until christmas, 24 da
of weapon ar 15 style weapon. >> laura: columbine not however. >> different type of weapon. aurora and port portland mall if you want to kill a lot of people they are effective. >> laura: what happened with the assault weapons ban 1994 to 2004. it did not have a measurable impact on the incidence of these type of mass shootings. is that not the case. >> oh no actually it really did. mass shootings have been up since the expiration of the assault weapons ban. during the assault weapons ban the use of assault weapons in crime went down. definitely an effect. >> laura: it's a safe every country than it's been in the last many decades, we are safer today. violent crime is down across the board, is it not. >> sky lent crime is down. gun crime suspect. one of the reasons you don't sees a many murders as you did in the past is small amount. the reason it's held steady really is because our surgeons are better. in places where you see a the lo of shooting, what's happened is that we save more lives than the past. so the reason you get more people getting shot, a little less people getting killed. b
ratings are so low? national pelosi voted against john boehner's bill or said she wouldn't uh port it, and it was -- wouldn't uh sport it, and it was her idea. this is what the american people are tired of as we head to the cliff. >> republicans have a majority in the house. all they had to do was to bring the bill up and get their people to vote for. it they couldn't do it. this is a disaster for the republicans in the house. >> shouldn't nancy paw pelosi, shouldn't she support her own idea? >> she is in the minority. look, the republicans run the house. boehner couldn't get his own people to vote for this. who know hows pelosi would vote -- who knows how pelosi would vote. now it is strictly on the senate. >> coming man frost quick question before we leave, the speaker, speaker boehner, moved more toward what president obama wants. that's in terms of the limits of who would see higher taxes. do you think that was a step in the right direction? >> i think it was exactly the right thing for the speaker to have done. i just feel sorry for him that his own party wouldn't support him. w
the information that surrounded the special mission there, there was some 200 ports leading up to it that talked about this security situation deteriorating, and they knew it, and so the folks there at the special mission were asking for help and asking for higher security. we know that tripoli asked. the report said they didn't ask hard enough. it's really not their responsibility. so what happened was they had all this information, and they processed it through the state department, and that leadership just failed to note the security around that -- around the ambassador when he traveled to benghazi, and a security of the special mission. not that they had to have it as a standard mission security status because it was a temporary facility, but the physical security part of it was just so wrong to fit the security threat that it resulted in the death of four americans. >> should we stop relying on local militias? there's security cam video showing that the libyan militias got in their pickup truck and ran at the first shot that was fired. >> well, i argue whose ever decision it was to hire the
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